Vedadao, wellington, off the plan, dual key apartments
We are very excited to present the furnished dual key Vedado Apartment Project, being developed by Vlad Barbalich, one of our most recommended developers. Examples of his previous highly successful developments are Masina and Revolución in Newtown and Mount Cook respectively. We believe in in Vlad as his mandate for all of the developments he is currently involved with is to keep over 30%, at Vedado he is keeping two thirds! As such he thinks and plans out the smallest of detail from the landlords’ and tenants’ perspective.
Vedado design is a collaboration between Vlad and Solari Architects, their principal James Solari has over 15 years of professional experience across a wide spectrum of projects. Prior to founding Solari Architects, James worked for Comeskey Grant Architects, and Novak+Middleton in Wellington, and the international firm Woodhead in Sydney, Australia. Solari Architects has a wide range of project experience in single houses, multi-unit residential, tourism and commercial projects.
Key investment results
Release date: 2016
Results date: 2018
Stock quantity: 10
Timeframe: 2.0 years
Equity created through value gain buying off the plan. High yielding dual income apartments.
Off the plan dual key apartments
Purchase price: $520,000
Value at end: $680,000
Deal profit: $160,000
Deal profit: 31%
These beautifully designed low rise apartments are due to be completed end of 2016. Dual Key apartments are hard to come by in Wellington, they are extremely popular with investors and give 1st home buyers the ability to subsidize mortgage payments through dual income. We see this as a selling point for the future if an investor ever wanted to exit their investment.
The location of second to none Vedado is down a quiet street in central city, only 10 mins walk from the Wellington CBD and all the excitement living in a capital city provides. Wellington is coming out of a very flat few years and is starting on its growth trajectory, investing now in one of the fastest growing suburbs of Wellington with dual income we feel is a win win for your investment portfolio.
Reasons we love dual key units:
Is they give the security of two income streams.
You get a far greater yield per square metre than a single income apartment.
You get a diversified income halving the vacancy risk on one purchase.
You can appeal to two different rental markets (furnished / unfurnished – one bedroom / studio).
You are getting great value from the size of the investment.
The complex is being built to the latest building code. This gives peace of mind to tenants and if a tragic event were ever to occur in the capital, this will arguably be one of the complexes where your investment will stay strong from a building and rental point of view.